jorens.zile
Long

Low risk setup for PFE

NYSE:PFE   PFIZER INC
Timeframe: Daily

Why is this setup good?
  • Contextual uptrend
  • Price continuing moving in the direction of main trend since it bounced close to major support EMA (200)
  • Momentum building on MACD 12-26 and MACD crossover
  • First reaction (contraction) since MACD crossover
  • Trigger Candle testing EMA 3, 6 and 18
  • Low Setup Risk - just 2.11% in risk


Entry rules:
-Buy Stop order or Manual Buy at 43.53 at the next interval(candle) open
-Cancel the order at the end of the day if 43.53 does not get triggered
- Stop Loss (S/L) level at 42.61 (adjust position size accordingly, don't risk more than 3% for your current account balance)


Trade management

-Move S/L to break-even when price CLOSES above 43.73

Exit rules:
-Target 46.41 (Risk-Revard ratio ~3.11)
Order cancelled

Comments

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